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"YOU'LL FIND OUT ON FEB 10TH"

Mon Feb 08, 2010 11:05 am

The only truthful thing he's ever told us. :lol:

Re: "YOU'LL FIND OUT ON FEB 10TH"

Mon Feb 08, 2010 11:08 am

nah the feckers lying :lol: If we are in as deep as I think, we will find out tomorrow and Administrators will be appointed before the court appoints them. I hope not but squeaky bum time is upon us.

Re: "YOU'LL FIND OUT ON FEB 10TH"

Mon Feb 08, 2010 11:55 am

ihatealiens wrote:nah the feckers lying :lol: If we are in as deep as I think, we will find out tomorrow and Administrators will be appointed before the court appoints them. I hope not but squeaky bum time is upon us.

On Wednesday the court will not appoint Administrators. That is not their function They wil either agree or dismiss the petition to wind us up. At that point, if it is the latter, Liquidators will be appointed whose role will be to sell all the remaining assets for the best price possible to the benefit of creditors. I believe that the players contracts will revert to the Football League. Secured creditors, ie the bank, PMG could not allow that to happen so if there is the sliughtest chance of the petition succeeding then Aministrators will beappointed by one or more of the secured creditors, most likely on Tueasday.

Re: "YOU'LL FIND OUT ON FEB 10TH"

Mon Feb 08, 2010 12:05 pm

OnceaBluebird wrote:
ihatealiens wrote:nah the feckers lying :lol: If we are in as deep as I think, we will find out tomorrow and Administrators will be appointed before the court appoints them. I hope not but squeaky bum time is upon us.

On Wednesday the court will not appoint Administrators. That is not their function They wil either agree or dismiss the petition to wind us up. At that point, if it is the latter, Liquidators will be appointed whose role will be to sell all the remaining assets for the best price possible to the benefit of creditors. I believe that the players contracts will revert to the Football League. Secured creditors, ie the bank, PMG could not allow that to happen so if there is the sliughtest chance of the petition succeeding then Aministrators will beappointed by one or more of the secured creditors, most likely on Tueasday.

Thats what I said Administrators would be appointed tomorrow. An Administrator can be appointed by the courts – on application from a creditor, directors or partners.

Re: "YOU'LL FIND OUT ON FEB 10TH"

Mon Feb 08, 2010 12:30 pm

ihatealiens wrote:
OnceaBluebird wrote:
ihatealiens wrote:nah the feckers lying :lol: If we are in as deep as I think, we will find out tomorrow and Administrators will be appointed before the court appoints them. I hope not but squeaky bum time is upon us.

On Wednesday the court will not appoint Administrators. That is not their function They wil either agree or dismiss the petition to wind us up. At that point, if it is the latter, Liquidators will be appointed whose role will be to sell all the remaining assets for the best price possible to the benefit of creditors. I believe that the players contracts will revert to the Football League. Secured creditors, ie the bank, PMG could not allow that to happen so if there is the sliughtest chance of the petition succeeding then Aministrators will beappointed by one or more of the secured creditors, most likely on Tueasday.

Thats what I said Administrators would be appointed tomorrow. An Administrator can be appointed by the courts – on application from a creditor, directors or partners.

My apologies. I must be confused. You originally said that "Adminstrators will be appointed before the Court appoints them". You then go on to say " An Administrator can be appointed by the Courts on application Etc". We may be in the realms of semantics here. The impression I had was that you expected the Court on Wednesday to appoint Adminstrators. On a technical point a court order is a prerequisite toapprove the appointment of Adminstrators.

Re: "YOU'LL FIND OUT ON FEB 10TH"

Mon Feb 08, 2010 12:42 pm

It's not good whichever way it happens really. There are advantages and dissadvantages to going into administration. Nobody wants to see their club go into administration though so lets hope we can avoid it.